Thursday, February 22, 2024
HomeWORLD NEWSEU fines Illumina $475 million for concluding the Grail transaction.

EU fines Illumina $475 million for concluding the Grail transaction.

How are you all doing on this beautiful, sunny morning? As you may be aware, the middle of the week has arrived, so why not celebrate with a delectable cup of stimulation? Considering that you’ve made it this far, it’s likely that you’ll survive another few days.

Obviously, no prescription is necessary, which is a plus. Today’s selection is gingerbread, for those who monitor such things. And while you’re sipping, you can peruse the morning-starting information we’ve compiled. I hope you conquer the world, and as always, please stay in touch.

The Wall Street Journal reports that vital antidotes for life-threatening lead toxicity are running out. The drug dimercaprol has been the treatment of choice for years for the most severe cases of lead poisoning, but physicians have had to scramble for diminishing doses since the sole U.S. manufacturer declared bankruptcy in February.

The Food and Drug Administration is working to resolve the dimercaprol shortage, possibly by allowing hospitals to import foreign versions temporarily. The antidote edetate calcium disodium, or EDTA, which is frequently administered in conjunction with dimercaprol, is also in limited supply.

STAT reports that the European Union issued Illumina, a genetic sequencing company, a $475 million antitrust fine for concluding its acquisition of Grail, a cancer detection company, prior to receiving clearance from regulators.

The sanction amounts to nearly 10% of Illumina’s annual global revenue, which is the maximum amount that the European Commission can impose on a company in accordance with its merger regulations.

The commission described Illumina’s actions as “unprecedented and extremely serious” violations of EU policies, including the “cornerstone” that market-altering transactions be reviewed by regulators. Illumina stated that it would appeal the ruling.

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